Best Child Insurance Plans


The birth of a child, marks a very important and happiest moment in life for everyone. The happiest moment also reminds the new parents, the challenges they are going to face in the near future in bringing up their children. One needs to ensure, that they are financially secure to face the challenge. Inflation is a main factor that is pushing up the cost of education consistently, thus by it is wise to start investing for welfare of the child as early as possible.

Child education plan is normally designed to ensure financial security in important points of child’s life. This insurance also makes sure that the education of the child does not suffer, in case of any unfortunate events happen in the future. Here is the comparison of top 5 child education plan.




Aviva Young Scholar Advantage Plan 21-45 years      60 10-25 years X10 annual premium
SBI smart Scholar 18-57 years       65 8-25 years X7 annual premium
Metlife College plan 20-45 years       69 12-24 years 2,12,040 to 5 cr
MaxLife Shiksha Plus Super Insurance Plan 21-50 years     60-65 15-25 years X10 annual premium
Aegon Life Educare Advantage plan 20-60 years        75 14-20 years 1 Lakh to Unlimited


Benefits and Details.

Avia Young Scholar Advantage Plan-

  • Under the Section 80c, the policyholder can claim Tax benefit
  • This policy guarantees death benefits and maturity benefits
  • Loyalty additions will be paid at certain intervals.
  • With this plan, one can test their own investment risk appetite and spin their wealth, because the plan provides for 7 different fund options to invest with.


Aegon Life EduCare advantage Plan-

  • The main advantage of this plan is, with a limited premium payment, one can get a lump sum payout in the last 4 years of the policy’s life.
  • The policy holder can avail loans, under the plan of up to INR 5000 minimum to a maximum of 60% of the policy’s surrender value after the end of three years.

Max Life Shiksha Plus Plan-

  • This plan covers family income benefits and future premium funding of the plan, in the event of life insured’s death.
  • The usual tax benefits applicable under Section 80c are applicable under this policy along with a guaranteed loyalty bonus of 0.20% of the fund value from the 11th policy year onwards.

SBI Smart Scholar

  • This plan provides diverse investment opportunities with 9 different fund options to choose from.
  • Incase of life insured’s death, the policy pays out the basic assured and also waives future premium payments to ensure that the policy continues effectively.

Metlife College Plan.

  • Under this policy, if the policy holder fails to pay the annual premium, it will be converted in to existing policy to reduce paid-up benefits
  • Policyholders are also open to receiving tax benefits and can also avail loans against the policy after 3 years of the policy being in effect.

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